Wal-Mart CEO Expects "Serious Inflation" (WMT)

Wal-Mart WMT CEO Bill Simon said that he expects "serious inflation," as input costs are rising sharply. In an article on USA Today, Simon said that he expects a strong increase in inflation, and that the company is doing what it can to deal with suppliers so that it can continue to provide the low cost experience for its customers. Simon met with USA TODAY's editorial board, and said, "We're seeing cost increases starting to come through at a pretty rapid rate." "We're in a position to use scale to hold prices lower longer ... even in an inflationary environment," Simon told USA Today. "We will have the lowest prices in the market." Shares of Wal-Mart closed at $52.36 yesterday.